Haha. I love the über-Lovecraftian preface. This truly is a great idea, Rich. I really dig the old-timey, B&W linework. I hope you continue this thing for a while, it's a great piece of fan-ish art (though not necessarily GB related of course). You could obviously make several thousand entries if you so desired; there are countless Spirits lurking about.
My only piece of criticism on what you already have finished, and it's profoundly trivial indeed, is that the font on the entry-pages is too dark in relation to the drawings and borders, and consequently it lessens the “faded page” effect. Other than that, this is really awesome.